Quite so much of major events came about in crypto this week, because the Large Gorgeous Invoice handed, prompting one more split between Elon Musk and President Trump. Robinhood unveiled tokenized shares and diverse audacious targets.
The most indispensable Solana staking ETF began trading on US markets, but the SEC delayed Grayscale’s altcoin basket product. All these tales and more come in at BeInCrypto.
Trump Indicators Large Gorgeous Invoice Into Law
This week, a key share of regulations with gigantic implications for crypto handed, as Trump’s Large Gorgeous Invoice made it thru the Senate and House of Representatives. Although many crypto- and AI-dispute provisions did now not stay on the final version, the bill as it stands will on the replacement hand have wide implications.
Earlier this day, on the Fourth of July, Trump lastly signed the $3.3 trillion bill into regulations.
Of the a astronomical sequence of disorders that the Large Gorgeous Invoice covers, wide tax cuts seem most salient to the crypto ecosystem. These cuts will now not fully relief domestic crypto investment, but they’re additionally inclined to substantially weaken the greenback.
By rising the deficit and monetary instability, the bill can also relief Bitcoin’s exercise as a retailer of payment.
Trump and Musk Fallout Again
Needless to roar, the crypto neighborhood is some distance from united on the Large Gorgeous Invoice. This week, Elon Musk warned supporters of its major capability downsides, sending shockwaves thru the crypto market.
Musk is amazingly thinking about the US deficit, as evidenced by his time at D.O.G.E., and he many occasions warned that this bill would possibly possibly well well consequence in a recession:
For the final so much of days, Musk has vowed to produce a brand unusual political occasion if the Large Gorgeous Invoice passes. This would possibly possibly disclose a more permanent political divorce from Trump, which would possibly possibly well well in particular impact the meme coin market.
To this level, Musk is aloof running a social media poll about this third occasion, and his plans can also now not in fact materialize.
Solana Staking ETF Begins Shopping and selling
In a lighter share of crypto data, the US’ first Solana Staking ETF began trading earlier this week. The SEC gave obvious indicators referring to capability approval so much of days sooner than, and the product is now are residing on regulated exchanges.
This represents a big step forward for the crypto ETF sector.
Unfortunately, the crypto ETF subsector additionally purchased some depraved data this week. Although the SEC ostensibly licensed Grayscale’s unusual basket ETF, containing so much of major altcoins, it initiated one more prolong soon after.
The Charge’s final deadline to approve this form of product used to be July 2, but this unorthodox diagram can also have given it a bit more time.
It’s unclear why exactly the SEC determined to steal this role. It’s additionally engaged on a streamlined ETF application direction of, that can also relief uncover the difficulty. There are dozens of active proposals already, and no-one knows how they’ll work along with this newfangled mechanism.
Robinhood Launches Tokenized Stocks
This week, Robinhood unveiled its long-term plans for expansion in the crypto industry. The firm has been exploring this market for over a One year, but its most unusual presentation at EthCC 2025 detailed very audacious targets.
Robinhood plans to tokenize over 200 shares and ETFs for the US and European markets, turning its crypto app into an all-in-one investment platform.
The firm additionally announced a few so much of targets, admire its occupy Layer-2 blockchain, perpetual futures contracts for EU customers, token staking for the US market, and more.
If performed, these milestones would possibly possibly well well relief solidify Robinhood’s stature as a indispensable presence in the crypto industry.
“Solana’s MicroStrategy” Goes All in on Acquisition
In a final share of crypto data this week, DeFi Construction announced a $100 million stock sale to fund Solana acquisition.
A astronomical sequence of companies are shopping Bitcoin, raising concerns of a bubble, but DeFi Construction is the fully firm to try a SOL treasury thought. Its stock payment crashed when it announced this sale, but recovered in the center of the week.
No matter what occurs, DeFi Construction’s enterprise will yield treasured data about market appetites. As MicroStrategy-style corporate treasury plans steal over the total Bitcoin sector, an altcoin acquisition effort would possibly possibly well well shake all the pieces up.
These tales are correct a tiny replacement of the major events that came about in crypto this week. As continuously, BeInCrypto stands able to retain you told of all market trends.
